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Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.

Mulally wanted to kill Lincoln as late as last year, Fields vows to turn it around

Lincoln fans might want to give incoming Ford CEO Mark Fields a pat on the back for having a hand in saving the brand from the chopping block last year. He's among the people spearheading the rejuvenation of the division away from its stodgy image to appeal to younger customers.
According to two unnamed sources speaking to Bloomberg, CEO Alan Mulally was ready to kill Lincoln last year. Following the slow production ramp-up of the MKZ combined a with a costly ad campaign, Mulally was frustrated and openly suggested dropping the brand. However, Fields and Jim Farley, Ford's marketing boss, convinced the CEO that the brand was worth saving. They also created a plan to prevent similar problems for new models in the future.
It seems that one part of the strategy may involve waiting until new models are at dealers before starting a big ad campaign for them. Lincoln global director, Matt VanDyke, recently told Autoblog that the division is holding off on a full marketing push behind the new MKC crossover to prevent the supply problems that plagued the MKZ last year. Its big offensive begins in the fall when the CUVs are at all of the dealers and consumers are at home watching more TV. VanDyke also told Bloomberg that Fields, Farley and Joe Hinrichs, Ford president of the Americas, have more direct oversight over new product launches now.

Watch 14 hot rides take over concept car lawn at Pebble Beach

The Pebble Beach Concours d'Elegance is an annual celebration of the beautiful, old cars that grace Monterey Car Week. But Monterey – and Pebble – features lots of newer metal, too, and that includes the concept lawn at Pebble Beach. Now, "concept lawn" isn't a totally accurate name anymore, and you'll see why in the list below. This year especially, plenty of production cars can be found in the area once reserved for the conceptual. Still, we're happy to see them. Here's what's featured this year: Alfa Romeo 4C Spider Audi R8 BAC Mono Bentley EXP 10 Speed 6 BMW 3.0 CSL Hommage R Buick Avenir Galpin-Fisker Rocket Speedster Hyundai HCD-16 Vision G Coupe Icona Volcano Infiniti Q60 Lamborghini Asterion LPI 910-4 Maserati Ghibli McLaren 570S Rolls-Royce Wraith By our count, that's seven concepts out of fourteen cars. But it still makes for one hot group of metal. Check 'em out in the gallery above. Related Video: Related Gallery 2015 Pebble Beach Concept Car Lawn View 38 Photos Image Credit: Copyright 2015 Drew Phillips / AOL Design/Style Alfa Romeo Audi Bentley Buick Infiniti Lamborghini Lincoln McLaren Porsche Concept Cars Videos Original Video Pebble Beach